RSSCFPB fines Fifth Third Bank for unauthorized auto insurance accounts
The Consumer Financial Protection Bureau fined Cincinnati-based Fifth Third Bank $20 million for opening fake bank accounts and wrongfully triggering auto repossessions.
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News
Fay Servicing fined $5 million for mortgage violations
The Consumer Financial Protection Bureau fined nonbank mortgage servicer Fay Servicing $5 million for foreclosing on homeowners who are protected by housing protection laws.
CFPB: Contract for deed deals covered under Truth in Lending Act
Contract for deed home purchase deals are covered under the Truth in Lending Act, according to a Consumer Financial Protection Bureau advisory opinion and research report.
CFPB warns against NDAs with illegal provisions
Financial institutions that impose nondisclosure agreements not allowing for communication with law enforcement can impede investigations and violate federal whistleblower protections, according to a recent Consumer Financial Protection Bureau circular.
CFPB: Paycheck advance products subject to Truth in Lending Act
Many paycheck advance products are consumer loans subject to the Truth in Lending Act, according to the Consumer Financial Protection Bureau.
CFPB: Lunch payment firms stifling competition
The Consumer Financial Protection Bureau is scrutinizing the companies school districts use to process student lunch payments for allegedly taking advantage of underserved families while limiting market competition.